How to Reduce the Cost of Solar Energy

Last Updated: July 10, 2021

Solar Energy costs are declining every year with an increase in efficiency and productivity in the equipment. Although prices are plummeting, it is still not a small investment.

We will explore the factors that are making still solar energy costly and know how to reduce the cost of Solar Energy.

Prices

Countries today are embracing Solar energy due to its environment-friendly characteristics and provoking their citizens to get into it as the climate is showing phenomenal and unexpected behaviour. You can see the graph that the prices of renewables resources are falling constantly.

Solar Energy Price Declination

When Sun Energy is Free, Then Why Solar Energy is Costly?

We produce Solar Energy by harnessing the sun rays. There are many ways of harnessing, but the most common way is using Photovoltaic Solar Panels. Sun rays are free and always will be.

Yes, Solar energy is free. But utilizing and storing it is not. If it were that simple to move to a green and renewable energy source, everyone would be doing it by themselves. You have to face several issues when you go to Solar energy. The most influential of all is the price tag. Everyone wants smaller electricity bills, but first-time expenses are mostly too high.

Solar Energy Prices | EnergySage

Concise Answer

See guys, you can reduce the prices of solar energy by yourself now. Equipment prices are decreasing already, and they would in the future. Unluckily you can not do anything regarding it.

The second thing is the installation cost, and you cannot do anything about it anything if you hire installers except bargaining. Tesla in this regard is doing great work, they are trying to facilitate people as much as they can.

How to Reduce the Cost of Solar Energy by Yourself

You have already seen above all the expenses. So equipment is the thing that costs the most. Solar installation costs a good amount. You can save that money on installation, but it is not easy to install panels. You always need installers to do that.

  • Save money on hardware: You can compromise on the quality of inverters, solar panels, and mounting system;
    • You are not under obligations that you buy the most productive solar panels, inverter and mounting systems out there. What you can do is look for something that is optimum for your budget and saving plan.
    • There are a few types of inverters. What you should do is buy centralized inverters that can manage the whole system, while String inverters do connect with each panel individually. You should choose the one that could fulfil your particular needs.
  • Try to Get Competitive Bids: Many small solar installers are available at a lower price than other big contractors. Always try to get high-quality things or components of the solar panel system at lower prices.
  • By the way, mounting systems are not that expensive. The moment you decide where to set your panels, you can look for specific mounting mechanisms. If you want good efficiency, remember high efficiency always requires expensive mounting hardware.
    • Try not to buy extra, you should evaluate the total need and then go for buying.
    • Buy lower quality things and try to maintain them.
  • You can take advantage of the federal tax credit as it depends on the total expense of the solar panel system. Expenses include equipment, labour, etc. SoIf we talk about 2019, a solar system that used to cost $15,000 got you a 30 per cent tax credit of $4,500.
    •  According to sources, you will receive a 26% federal tax on the solar panel system of $15,000. You might receive 20 – 23% federal tax credit as harnessing solar energy is becoming affordable.

How Can I Claim the Solar Tax Credit

  • Save money through Installer: You can save by learning about solar energy yourself and lessening the time with the installer. As you take more time of the installer, the more you will get charged. Installer spends time with you educating your solar energy and solar panel system. You can use the free source Department of Energy.

Final Words

See guys, solar energy is becoming cheaper every day. I made tips and tricks vivid on money-saving and cost reduction on solar energy. I would say choose optimum and try to compromise. Things are getting better, so hope for a better tomorrow. And there is one thing that can save you money, and that thing is affection with solar energy.

Search for the best equipment with high efficiency and productivity in a lesser amount. Figure out your requirements, and then go for solar energy.

But still, if you can’t afford solar energy, then you should keep going as they were and wait for more cheapness in the cost of solar energy.

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